Highest total since 2012. US refiners outpacing 2016 and where is it going? Product tankers filling up in New York Harbor taking diesel to Europe while the gulf coast refineries replace temporarily lost production in South America and Africa. So who actually knows what US consumer demand actually is. Good luck on the numbers when they finish refinery maintenance in Europe and get things working again in Africa and South America.
Trades with cats wrote:I wan't going to say it but this is it, major policy after major policy. My wife worked for what was once a major tech company, so from her I learned "walk the talk", but all I am seeing is "talk the talk". This looks just like the OPEC oil production cuts that aren't. Going to slash corporate rates to 15% when the average effective rate for publicly traded companies is 11% is identical to Mexico agreeing to cut production by the amount of their depletion. Headline reading algos are stupid enough to buy over this stuff but once the adults look it over market isn't moving any further.
sideways, HL and LH, right now I am a little bullish bias on USO.
short term 5 DMA is still problem but dip buying is what I have now.
My comments are for entertainment/educational purpose only. NOT a trade advice.
PM:
Higher lows (green dots) demand long hold for swingers, but been scaling out because I’m a big fat wussie, aaaa I mean aaaa, I don’t want to give much back, better in my pocket than theirs
So swing still long, intraday up down up down up down etc
TWO DIFFERENT TIME FRAMES
bla bla bla
15min
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Chart for the road: very overbought but no reversal on intraday to get this early bird to want to risk it. wait out some more no exit warning on the long side on a daily chart setup either. bullish bias to continue. Peace!
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My comments are for entertainment/educational purpose only. NOT a trade advice.
I think you miss the point. As long as the ALGO's are LONG the market, you should be too! ALGO'S often are the VISIBLE (lit) start of the precipitation (the downside). Retail traders/"adults" aren't bringing this bull down.
Sharing research and ideas only, this is not trading advice.
“If people concentrated on the really important things in life, there’d be a shortage of fishing poles.” – Doug Larson
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